ABORIGINAL LAND ACT 1991 - SECT 145
Payment of amount to mortgagee in discharge of mortgage
ABORIGINAL LAND ACT 1991 - SECT 145
Payment of amount to mortgagee in discharge of mortgage
145 Payment of amount to mortgagee in discharge of mortgage
(1) This section applies if—
(a) the lessor forfeits or decides not to renew
a home ownership lease; and
(b) under a mortgage of the lease, an amount is
owing to a mortgagee of the lease by the person who was the lessee.
(2) The
lessor must pay to the mortgagee—
(a) if the amount that may be deducted
from the maximum amount under section 144(d) is less than the difference
between the maximum amount and the amounts deducted under section 144(a) ,
(b) and (c) —the amount that may be deducted from the maximum amount under
section 144(d) ; or
(b) otherwise—the amount equal to the difference
between the maximum amount and the amounts deducted under section 144(a) ,
(b) and (c) .
(3) The lessor must pay the amount payable under subsection (2)
to the mortgagee—
(a) if no appeal is made to the Land Court about the
required amount payable to the person who was the lessee—within 28 days
after the time for making an appeal ends; or
(b) if an appeal is made to the
Land Court about the required amount payable to the person who was the
lessee—within 28 days after the appeal is finally decided.
(4) If the
lessor pays an amount to the mortgagee in relation to a mortgage of the lease,
the mortgagee must use the amount in discharge of the mortgage.
